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Open
9 Jul 2026
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Close
13 Jul 2026
3
Allotment
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Listing
Thu, Jul 16, 2026
Price Band
₹62 to ₹66
Issue Size
37,88,000 shares (agg. up to ₹25 Cr)
Lot Size
2,000 Shares
Listing Date
Thu, Jul 16, 2026
Latest GMP
₹10
Est. Gain
15.15%
✦ AI Insight
GMP Trend
16-07-2026₹10Est. ₹76+15.15%
15-07-2026₹10Est. ₹76+15.15%
14-07-2026₹12Est. ₹78+18.18%
13-07-2026₹8Est. ₹74+12.12%
12-07-2026₹14Est. ₹80+21.21%
11-07-2026₹14Est. ₹80+21.21%
10-07-2026₹7Est. ₹73+10.61%
Live Subscription
| Category | Subscription (times) |
|---|---|
| QIB | 59.01x |
| NII | 113.60x |
| Retail | 73.25x |
| Total | 54.54x |
Restated Financials (₹ Cr.)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 99.66 | 78.62 | 78.37 |
| Total Income | 96.57 | 82.52 | 82.24 |
| Profit After Tax | 7.10 | 2.34 | 4.69 |
| EBITDA | 15.27 | 8.49 | 11.08 |
| NET Worth | 39.98 | 32.88 | 30.54 |
| Reserves and Surplus | 29.48 | 31.38 | 29.04 |
| Total Borrowing | 47.18 | 34.21 | 35.69 |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Autofurnish Ltd. | SME | ₹14.60 Cr | ₹41 | 11.64 | ₹45.15 | +10.12% | ₹58.88 (+6.96%) |
| Gallard Steel Ltd. | SME | ₹37.50 Cr | ₹150 | 17.31 | ₹234.25 | +56.17% | ₹157.00 (+0.00%) |
| Sellowrap Industries Ltd. | SME | ₹30.28 Cr | ₹83 | 8.4 | ₹94.50 | +13.86% | ₹64.00 (-0.39%) |
| SEDEMAC Mechatronics Ltd. | Mainboard | ₹1,087.35 Cr | ₹1352 | 126.91 | ₹1,451.10 | +7.33% | ₹2,689.20 (-2.30%) |
| Tenneco Clean Air India Ltd. | Mainboard | ₹3,600.00 Cr | ₹397 | 28.97 | ₹490.80 | +23.63% | ₹539.95 (-0.71%) |
| Studds Accessories Ltd. | Mainboard | ₹455.49 Cr | ₹585 | 33.06 | ₹560.30 | -4.22% | ₹450.60 (+2.14%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure towards purchase of additional plant and machinery for the existing manufacturing unit | 13.16 |
| 2 | Repayment/ Prepayment of Term Loans to Banks | 4.98 |
| 3 | General Corporate Purposes | 3.62 |
| 4 | Issue Expenses | 3.24 |
| Total | 25.00 |
About Happy Steels IPO
Incorporated in 1996, Happy Steel Limited is an integrated manufacturer of safety-critical, forged, and machined transmission and driveline components catering to on-highway, off-highway, electric vehicle (EV), and defence applications. The company operates across the complete manufacturing value chain, with capabilities spanning raw material procurement, forging, heat treatment, precision machining, gear cutting, drilling, surface hardening, grinding, inspection, and packing. This integrated process framework enables the company to deliver components with defined mechanical properties, high dimensional accuracy, and consistent quality in line with stringent customer specifications. Its product portfolio includes a wide range of axles, long spline shafts, spindles, and other safety-critical and load-bearing components that play a crucial role in vehicle performance and safety. These products are supplied to original equipment manufacturers (OEMs) and Tier-I suppliers in India and overseas markets. The company operates a manufacturing facility in Ludhiana, Punjab, covering approximately 16,427 square yards with an installed capacity of 8,640.00 MT per annum for cutting operations, 7
Contact Details
Happy Steels Ltd. AddressKanganwal RoadJaspalBangerLudhiana, Punjab, 141122+91 6239821029cs@happysteels.comVisit Website